One of the biggest factors in CEOs’ thinking is the attitude that local and state authorities have toward business and the perceived capriciousness of regulations, particularly those imposed on smaller firms least able to bear the costs. In this respect, if it were possible to rank 60th out of 50 states, California would likely rank No. 61. Joseph Vranich, an expert on corporate relocations, has counted more than 200 major companies with tens of thousands of employees that left the Golden State over the last four years.
California has met the future, and it really doesn’t work. As the mounting panic surrounding the drought suggests, the Golden State, once renowned for meeting human and geographic challenges, is losing its ability to cope with crises. As a result, the great American land of opportunity is devolving into something that resembles feudalism, a society dominated by rich and poor, with little opportunity for upward mobility for the state’s middle- and working classes.
“In the wake of the Great Recession, he said, many companies have relied on staffing agencies to manage regulatory changes in healthcare and workers’ compensation. “”As the government starts telling us how we need to operate, you’re going to see more and more survival techniques,”” Thalmayer said. “”And it may be through agencies like ours.”””
California had the fifth-highest wages in the country, with a Q2 2014 average weekly wage of $1,072. The state’s housing prices went up 8.12% between Q3 2013 and Q3 2014, the third-biggest jump in the country. The state government’s huge 2013 surplus of $32 billion was the largest of any state.
Region is on track to greet 50 million visitors a year, and these visitors spent more than $18 billion in our economy this year. At the same time, the hospitality and tourism industry also serves our 10 million local residents. Accordingly, the report delineates the two separate components (traded versus local-serving), which are very different in terms of their composition, workforce needs, intermediate purchases and economic impacts — distinctions that have clear implications for how policymakers and stakeholders formulate programs to encourage not only more jobs but also better-paying jobs.
California had more manufacturing businesses (38,741) than any other state in 2012 and their 1.2 million employees were also the largest industrial workforce of any state, the report says. Those workers produced products valued at $512.3 billion, up 4.3 percent from the previous industrial census in 2007.
In this first year, the SVCIP finds that highly productive, talented workers are the undisputed foundation of the region’s strength in innovation and in attracting businesses, despite the region’s high costs. It then identifies the critical public policy issues that need to be addressed to develop, attract and retain talent for the region’s continued success. Those issues include immigration, STEM and early education, housing and transportation. R&D funding, tax policies and the cost of doing business also emerge as issues of strategic concern for the region.
The growing skills gap is one of the most persistent challenges a”ecting thriving and lagging state economies—the disparity between the skills companies need to drive growth and innovation versus the skills that actually exist within their organizations and in the labor market. This disconnect, expected to grow substantially as the boomer generation retires, causes workers and companies to miss out on realizing their full potential. A sizable skills gap impacts virtually every aspect of the economy, thereby affecting our national competitiveness and, in turn, causing the economy to fall short of its potential.
. . . Summit leaders have spent the last few months developing a five-year plan that aims to build on these successes. The Summit’s new Roadmap to Shared Prosperity, scheduled for release in January, integrates the work of the Summit’s seven action teams and once again identifies the “right next steps” the state must take between now and 2020 to advance prosperity—from developing a workforce that can compete in the global economy to making needed infrastructure investments and encouraging the state to find new ways to fund these vital efforts.
Most published research focuses on tax incentives at the state level, where the largest packages are typically awarded. A new nationwide survey by the International City/County Management Association (ICMA), though, provides a detailed portrait of how local governments use business incentives and employ accountability measures.
If fully implemented, the annual cost of base tuition and fees for a California resident will jump from $12,192 this academic year to an estimated $15,563 in 2019-20.
The final AMP report makes recommendations addressing three key pillars that support American manufacturing: 1) enabling innovation, 2) securing the talent pipeline, and 3) improving the business climate.
Corporate executives who haven’t considered investing in California for a long time suddenly have new reasons to do so.
Building on the state’s efforts to streamline the permitting process and make it easier to business in the state, the Governor’s Office of Business and Economic Development (GO-Biz) today launched a new web page to highlight the best practices of business groups and state and local permitting agencies that are making their programs more user friendly for businesses.